Star Bulk Carriers (SBLK)
NASDAQ:SBLK
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Star Bulk Carriers
(NASDAQ:SBLK)
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Rating:72Outperform
Price Target:
$30.00
â–²(22.70% Upside)
Action:Upgraded
Date:05/22/26
The score is driven primarily by improving financial resilience (notably deleveraging) and supportive earnings-call messaging around disciplined capital returns and solid cash generation. Technicals add a meaningful boost due to a strong uptrend, while valuation is moderately favorable but not deeply discounted; cyclicality and macro risks cap the upside.
Positive Factors
Capital-allocation policy & shareholder returns
A stated commitment to return 100% of free cash flow (with a per-vessel cash floor), plus ongoing buybacks and a recurring dividend, institutionalizes disciplined capital allocation. Over 2–6 months this reduces reinvestment risk, aligns management with shareholders and increases predictability of cash returns in cyclical markets.
Negative Factors
China & commodity demand cyclicality
Star Bulk's revenues are highly tied to global commodity trade volumes. Weakness in Chinese steel output and rising inventories can reduce dry-bulk tonnage demand for months, pressuring charter rates and utilization. This structural cyclicality limits earnings visibility across the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Capital-allocation policy & shareholder returns
A stated commitment to return 100% of free cash flow (with a per-vessel cash floor), plus ongoing buybacks and a recurring dividend, institutionalizes disciplined capital allocation. Over 2–6 months this reduces reinvestment risk, aligns management with shareholders and increases predictability of cash returns in cyclical markets.
Read all positive factors
Star Bulk Carriers (SBLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.01B
Dividend Yield1.59%
Average Volume (3M)1.10M
Price to Earnings (P/E)10.9
Beta (1Y)1.10
Revenue Growth-11.62%
EPS Growth-37.75%
CountryUS
Employees301
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)1.26
Shares Outstanding113,847,450
10 Day Avg. Volume1,296,717
30 Day Avg. Volume1,100,631
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)0.90
Price to Sales (P/S)2.12
P/FCF Ratio10.52
Enterprise Value/Market Cap1.18
Enterprise Value/Revenue3.24
Enterprise Value/Gross Profit9.40
Enterprise Value/Ebitda9.39
Forecast
1Y Price Target
$30.50Price Target Upside24.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)3.74
Revenue Forecast (FY)$1.11B
Star Bulk Carriers Business Overview & Revenue Model
Company Description
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite...
How the Company Makes Money
Star Bulk primarily makes money by chartering its dry bulk vessels to customers to transport cargoes, earning freight income that is generally quoted as a time-charter equivalent (TCE) rate. Key revenue streams include: (1) Time charters: the vess...
Star Bulk Carriers Earnings Call Summary
Earnings Call Date:May 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
Overall the call painted a largely positive picture: the company reported strong profitability and cash generation, continued disciplined capital returns (buybacks and a $0.50 quarterly dividend), clear fleet renewal and efficiency programs with measurable fuel savings, and a resilient balance sheet with available liquidity and unencumbered assets. Key risks discussed include geopolitical uncertainty, elevated bunker and shipbuilding costs, China's cyclical demand risks, and fleet-aging related off-hire impacts. On balance, the positives (profitability, shareholder returns, efficiency gains, deleveraging and clear capital allocation) materially outweigh the highlighted macro and market headwinds.Positive Updates
Strong Profitability and Cash Generation
Net income of $58.5M; adjusted net income of $63M (adjusted EPS $0.52); Adjusted EBITDA reported at $114.3M (also referenced ~$113M) for Q1 2026, demonstrating strong cash-generating capacity.
Negative Updates
Market and Macro Uncertainties — Geopolitical Risk
Heightened geopolitical uncertainty (Middle East/Persian Gulf, Red Sea) increases volatility; elevated bunker prices and potential for protracted disruptions could push oil higher, which at very high levels (e.g., $150/bbl scenario discussed) could materially compress global economic activity and dry bulk demand.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Profitability and Cash Generation
Net income of $58.5M; adjusted net income of $63M (adjusted EPS $0.52); Adjusted EBITDA reported at $114.3M (also referenced ~$113M) for Q1 2026, demonstrating strong cash-generating capacity.
Read all positive updates
Company Guidance
The company reinforced a capital-allocation and payout-focused guidance: an updated policy to distribute 100% of free cash flow (subject to maintaining a minimum cash balance of $2.1 million per vessel), continued active share repurchases (≈1.9 million shares for $37.9 million YTD) and a declared $0.50 per-share quarterly dividend (payable ~June 20); management said it will continue selling smaller/older, less fuel‑efficient ships while opportunistically buying back shares. Key operating and balance‑sheet metrics underpinning that guidance include total cash and cash equivalents of ≈$432 million, outstanding debt ≈$874 million with an undrawn €110 million revolver, ownership of 29 debt‑free vessels (aggregate market value ≈$700 million), a fleet of 136 vessels generating $212.5 million revenue and ~$113–114 million adjusted EBITDA in Q1, and per‑vessel TCE of $18.5k/day (combined OpEx + net cash G&A $6.42k/day → cash margin ≈$12.1k/day before debt/CapEx). Management also highlighted fleet economics: ~48.5k available days, a 12‑month SFA of ≈$20.5k/day implying ≈$3.4/share of free cash flow (13% implied cash‑flow yield), and that every $1.5k fleet‑wide TCE rise would add ~$71 million EBITDA (≈$0.64/share incremental dividend).Star Bulk Carriers Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.09B | 1.04B | 1.27B | 949.27M | 1.44B | 1.43B |
| Gross Profit | 377.07M | 234.38M | 582.64M | 394.75M | 820.71M | 930.25M |
| EBITDA | 377.39M | 308.93M | 504.86M | 334.84M | 765.78M | 887.19M |
| Net Income | 142.24M | 84.17M | 304.65M | 173.56M | 566.00M | 680.53M |
Balance Sheet | ||||||
| Total Assets | 3.67B | 3.81B | 4.09B | 3.03B | 3.43B | 3.75B |
| Cash, Cash Equivalents and Short-Term Investments | 407.82M | 500.32M | 425.07M | 259.73M | 284.32M | 450.29M |
| Total Debt | 946.33M | 1.07B | 1.46B | 1.26B | 1.29B | 1.59B |
| Total Liabilities | 1.24B | 1.36B | 1.60B | 1.37B | 1.41B | 1.67B |
| Stockholders Equity | 2.43B | 2.45B | 2.48B | 1.66B | 2.02B | 2.08B |
Cash Flow | ||||||
| Free Cash Flow | 259.65M | 210.05M | 412.28M | 317.69M | 744.50M | 636.92M |
| Operating Cash Flow | 357.72M | 294.04M | 467.38M | 335.78M | 769.90M | 767.07M |
| Investing Cash Flow | 90.20M | 101.16M | 356.18M | 235.52M | -20.87M | -121.26M |
| Financing Cash Flow | -474.17M | -334.14M | -644.42M | -595.89M | -935.95M | -368.07M |
Star Bulk Carriers Technical Analysis
Positive
24.45
Price Trends
24.61
Positive
23.49
Positive
20.96
Positive
Market Momentum
0.56
Positive
56.51
Neutral
36.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBLK, the sentiment is Positive. The current price of 24.45 is below the 20-day moving average (MA) of 26.17, below the 50-day MA of 24.61, and above the 200-day MA of 20.96, indicating a bullish trend. The MACD of 0.56 indicates Positive momentum. The RSI at 56.51 is Neutral, neither overbought nor oversold. The STOCH value of 36.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SBLK.
Star Bulk Carriers Risk Analysis
Star Bulk Carriers disclosed 54 risk factors in its most recent earnings report. Star Bulk Carriers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We and Eagle may be targets of shareholder class actions or derivative actions, which could result in substantial costs and may delay or prevent the Eagle Merger from being completed. Q4, 2023
2.
If the completion of the Eagle Merger occurs, we may not realize all of the anticipated benefits of the Eagle Merger or those benefits may take longer to realize than expected. We may also encounter significant difficulties in integrating the two businesses. Q4, 2023
3.
Our future results will suffer if we do not effectively manage our expanded operations following the Eagle Merger. Q4, 2023
Star Bulk Carriers Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $2.38B | 3.65 | 13.85% | 3.64% | 2.95% | 15.92% | |
78 Outperform | $2.13B | 4.63 | 10.62% | 0.39% | 5.87% | 8.14% | |
72 Outperform | $3.01B | 10.92 | 5.87% | 1.59% | -11.62% | -37.75% | |
72 Outperform | $1.98B | 6.34 | 16.80% | 2.94% | -59.07% | 10.43% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $1.78B | 13.74 | 3.21% | 12.24% | -16.39% | -44.25% |
* Industrials Sector Average
SBLK
Star Bulk Carriers
26.40
10.65
67.61%
CMRE
Costamare
16.42
8.42
105.15%
DAC
Danaos
130.85
49.25
60.35%
NMM
Navios Maritime Partners
74.52
35.81
92.50%
SFL
SFL Corporation
12.28
4.60
59.94%
Star Bulk Carriers Corporate Events
Star Bulk Carriers Sets May 12, 2026 Shareholder Meeting to Elect Directors and Confirm Auditor
Apr 6, 2026
Star Bulk Carriers has called its 2026 Annual Meeting of Shareholders for May 12, 2026, at its management offices in Maroussi, Athens, with March 16, 2026 set as the record date for voting eligibility. Shareholders can access proxy materials and t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.